Experts say CA housing supply down in 2015, cite destructive fires as reason for decrease

May 3, 2016 11:43 AM by News Staff

State figures show the number of new housing units in California declined last year, for the first time since the start of the economic recovery.

Expert said the decrease is mainly because of wildfires that scorched more than two thousand homes.

The California Department of Finance reports that the state's housing supply rose by just over 67,000 units last year.

That is 2,500 fewer than in 2014.

Demographers said the number of new units would have been about the same if not for the destructive wildfires in Lake and Calaveras counties.

The housing hit came as California’s population grew to 39.1 million last year, an increase of just under one percent.


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